Diamond Hand Ethereum Whale Moves 15,000 ETH, Heres The Destination

A Diamond Hand Ethereum (ETH) whale has suddenly emerged, transferring a massive 15,000 ETH token to a major exchange. Given the sheer size of the transaction, this whale has caught the attention of many Ethereum investors and the broader crypto community. Diamond Hand Whale Moves 15,000 ETH Tokens Spot On Chain, a blockchain analytics platform, [...]

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Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction

XRP whales are bucking the trend with noticeable moves amidst a wider backdrop of uninspiring price movements for the cryptocurrency. A recent surge in XRP acquisitions has caught the crypto community’s attention, as large-scale investors acquired $228 million worth of the digital asset in a few days. Interestingly, this noticeable spike in buying comes on the heels of the launch of the Grayscale XRP Trust and an optimistic price prediction that sees XRP potentially hitting $5 in the next six to ten months. Whale Accumulation Increases Amidst Bullish Predictions This exciting movement by XRP whales was revealed through the crypto’s supply distribution on the social media platform X by Ali Martinez. According to the Santiment chart shared by the crypto analyst, wallets holding 10 million to 100 million XRP tokens recently pushed their total balance to a September peak of 7.17 billion XRP after adding about $288 million worth of XRP tokens in ten days. Related Reading: Grayscale XRP Trust Surges 11.44% One Week After Launch, Heres The Catalyst Based on the average price of the altcoin during this period, this equates to the acquisition of approximately 390 million tokens by this group of large holders, representing about 6.9% of the total circulating supply moving into the hands of a few key players. Although the total balance of the whales had dropped to about 7.11 billion XRP at the time of Martinez’s post, recent developments point to continued accumulation in the coming days. One of these developments is the recent launch of the Grayscale XRP Trust, which seems to be already attracting institutional investors to the token. However, despite this uptick in whale activity, XRP has not mirrored the price jumps in other major cryptocurrencies following a favorable U.S. Federal Reserve decision. The Federal Reserve’s 0.5% interest rate cut has fueled a broader inflow into the cryptocurrency market, propelling assets like Bitcoin and Ethereum to notable gains. In contrast, the price has struggled to break above the $0.60 mark, even with heightened whale activity. Crypto analyst Ash Crypto predicted that the altcoin could reach $5 in the next six to ten months. This forecast aligns with a wider backdrop of optimism within the crypto space, with multiple assets experiencing upward momentum as the effects of the Federal Reserve’s policy changes continue to ripple through markets.  Related Reading: Dogecoin Open interest Remains Muted Below $500 Million, Whats Going On? XRP $5 Prediction According to a recent outlook by Ash Crypto, XRP is on target to perform a 300% to 740% increase in the current market cycle. Such a rally puts the altcoin at a price target between $3 and $5. Notably, the crypto analyst’s outlook isn’t based on a technical analysis but on  fundamentals and a predicted rally by the general crypto market. As such, Ash Crypto’s outlook also forecasts Bitcoin trading between $150,000 and $250,000 and Ethereum trading between $10,000 and $15,000 in the next six to ten months. At the time of writing, XRP is trading at $0.5828. Featured image created with Dall.E, chart from Tradingview.com

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Heres What Dogecoin Whales Are Doing Following The Recovery Above $0.1

The Dogecoin price recover came as a welcome sight to investors after the meme coin struggled around $0.09 for a while. Naturally, the move in the price has prompted movement among Dogecoin investors and the whales are not left out of this. As the price rebounds, these whales have increased their activity, moving billions of DOGE to and from their wallets. However, the net flow of these whale wallets paint a bearish story for the DOGE price. Dogecoin Whales Move Over $500 Million The large whale transactions tracked by the IntoTheBlock platform are transactions carrying $100,000 or more. These large transactions, although seeing a drawdown from the previous weeks figures, have maintained a reasonably high level. Over the last two days, the average number of whale transactions have come out to 800, showing that interest from the whales remain high. Related Reading: Cardano (ADA) Enters Stage 3 That Will Trigger 4,500% Rally To $15 While the whale transaction numbers actually saw a decrease between Sunday and Monday, going from 899 transactions to 818 transactions, the number of DOGE moved tell a different story. IntoTheBlocks data shows that 5.19 billion DOGE were moved on Monday compared to 4.59 billion DOGE on Sunday. In dollar terms, this translates to $522.89 million compared to $499.99 million. Nevertheless, these numbers show an average of $500 million being moved by these whales everyday. As the Dogecoin price continues to recover, the whale transactions could balloon from here as investors move to secure their positions. Where Are The Coins Headed? The net flow data for the large whale wallets can tell us where the whales are moving their DOGE coins. This data tracks the inflow and outflows from the Dogecoin whale wallets, meaning how much is entering the wallets and how many coins are leaving. As a result, it can show if these whales are buying or selling at this time. According to the IntoTheBlock data, the inflows into the wallets have declined, while the outflows from these large wallets have risen over the last few days. Inflows dropped from 37.4 million DOGE on Sunday to only 115.11 million DOGE on Monday. This shows that the Dogecoin whales have not been buying as much DOGE during this time. Related Reading: Analyst Identifies $0.75 As Most Crucial Target For XRP Price In The Campaign For $1 In the same vein, outflows also surged from 18.37 million DOGE on Sunday to 107.71 million DOGE on Monday. This outflow trend suggests that Dogecoin whales are selling rather than buying. It explains the selling pressure on the coin over the last few days, making it hard to reclaim $0.1. However, net flow data, which shows the average of inflows and outflows, has remained almost flat. Nevertheless, the majority of Dogecoin holders look to be in it for the long term as 3.93 million addresses have held their DOGE coins for more than one year. 2.2 million addresses have been holding for between 1 and 12 months. This leaves only 113,660 addresses that have been holding for less than one month. Featured image created with Dall.E, chart from Tradingview.com

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Solana Dump Far From Over? Whales Continue To Dump SOL

The Solana dump looks far from over as whales continue offloading their SOL holdings during this market downtrend. The recent shakeup in the crypto space might have also contributed to these whales bearish sentiment towards Solana.  Crypto Whale Offloads $16 Million Worth Of Solana In an X (formerly Twitter) post, the on-chain analytics platform Lookonchain [...]

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Crypto Whales Buy The Dip As $22 Million In XRP Flows Out Of Binance

XRP is starting to recover after bouncing off $0.405 on July 5, suggesting the early stages of a rebound may be brewing. The crypto market has been volatile lately, and XRP hasn’t been spared. The crypto’s price took a dip recently, dropping below $0.40 for the first time in over a year. It is interesting to note that on-chain data suggests that some whales may be accumulating in anticipation of a major comeback, which may even be responsible for the bounce off of $0.40.  XRP Whales Buying The Dip? Various on-chain data has shown large XRP transactions in the past few weeks to and from exchanges, suggesting some whales might be taking advantage of the dip to accumulate more tokens. Particularly, recent transaction alerts from Whale Alerts on social media platform X noted a recent transfer of 52.1 million XRP tokens worth $22.7 million from crypto exchange Binance into an unknown wallet.  Related Reading: Bitcoin Mining Difficulty Crashes 5% To Lowest Level In 3 Months, What Happens Next? The details of this $22 million XRP transaction are pretty fascinating and transfers like this are worth paying attention to as they can either increase or decrease buying and selling pressure. In this case, the movement away from Binance suggests a decrease in selling pressure on the exchange.  52,103,936 #XRP (22,713,495 USD) transferred from #Binance to unknown wallethttps://t.co/7TUiD49tYb Whale Alert (@whale_alert) July 9, 2024 Interestingly, on-chain data shows that this wasn’t an isolated transaction. Data shows a similar transaction occurred over the weekend, which saw the movement of 31.9 million XRP tokens from Binance into an unknown wallet. At the time of transfer, these tokens were worth $14.22 million. Furthermore, the blockchain analytics engine Blockchain also revealed the transfer of 10 million XRP tokens worth $4.2 million from Binance into another unknown wallet. What’s Next? Key Levels To Watch At the time of writing, XRP is trading at $0.434. If the bulls regain control, the first minor resistance is at $0.45 and the next key resistance level to watch is around $0.50. Punching through that could open the floodgates for a rally towards $0.70 or even the $0.80 mark. Related Reading: Legendary Trader Peter Brandt Says Bitcoin Could Crash To $44,000, Heres Why To fuel that kind of upside, XRP would need to see a surge in trading volume and buying pressure from both retail and institutional investors. Positive news from Ripple’s ongoing legal battle with the SEC could be a major catalyst. An outright win or settlement would remove a huge cloud of uncertainty hanging over XRP. On the flip side, if the bears maintain their grip, the first support level to watch is around $0.40. This is because XRP recently bounced off $0.40 after an intense selloff last week. A break below that could see XRP tumble towards another support at $0.3750. Featured image created with Dall.E, chart from Tradingview.com

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Cardano Recovery Imminent? Whales Make Their Move With 17 Billion ADA

Cardano is at a significant milestone with the impending Chang hard fork. This pivotal moment follows the recent upgrade of its node validation software before the upgrade goes live. As the Cardano ecosystem gears up for this major update, the network is experiencing a surge in activity that could determine its trajectory in the coming [...]

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Dogecoin Price In Trouble Amid 108 Million DOGE Dump On Robinhood

Dogecoin has been in a price decline for the past seven days as the entire crypto market continues to be dominated by a fear sentiment. Furthermore, the meme cryptocurrency recently encountered rejection due to fresh bearish pressure. This occurred as the cryptocurrency attempted to recover some of the losses it had sustained last week.  According [...]

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Ethereum Whale Sparks Sell-Off Rumors With 11,215 ETH Coinbase Deposit

An Ethereum whale has caused panic among community members following a recent transaction suggesting they might be looking to offload their holdings. This comes amid a recent prediction by research firm Matrixport that Ethereums price could significantly rebound from its current price level.  Ethereum Whales Transfers 11,215 ETH Onchain data shows that the Ethereum whale transferred 11,215 ETH ($34.3 million) to the crypto exchange Coinbase. A trader usually makes such a move when selling these tokens, and considering the amount of tokens involved, such a sale could significantly impact ETHs price. However, data from the market intelligence platform IntoTheBlock shows that there might be a demand for these tokens if, indeed, this whale is looking to offload their tokens.  Related Reading: 83% Of All Bitcoin Holders Still In Profit Despite Drop Below $60,000 There has been an increase of 132% in the large holders’ netflow to exchange netflow ratio in the last seven days, which suggests that Ethereum whales are actively accumulating more ETH. The flow metrics also paint an accumulation trend among Ethereum holders, with inflow volume into exchanges down by over 11% in the last seven days. During this period, the outflow volume from these exchanges has increased by 3%, further confirming that Ethereum investors are looking to hold their positions and accumulate more ETH at this point. This is undoubtedly a positive development for Ethereums price, which could witness a significant rebound thanks to this wave of accumulation.  Research firm Matrixport also predicted that ETHs price would rebound from its current price level thanks to the Spot Ethereum ETFs, which they claimed could launch as early as this week.  While that remains uncertain, market experts like Bloomberg analyst James Seyffart have suggested that it shouldnt be long before these Spot Ethereum ETFs begin trading. This is because fund issuers have implemented most of the comments that the Securities and Exchange Commission (SEC) had on their S-1 filings.  ETH Is Primed For A Rally Crypto analyst Leon Waidmann mentioned in an X (formerly Twitter) post that Ethereum is primed for a rally. He made this assertion based on Ethereums dwindling supply. He noted that 40% of Ethereums supply is locked up, with 28% staked and the other 12% in smart contracts and bridges.  Additionally, Waidmann expects this supply to continue to reduce once the Spot Ethereum ETFs begin trading, with institutional investors taking a huge chunk of the supply off exchanges. Based on this, Ethereum could rally on the back of the supply and demand dynamics since demand is bound to outpace supply at some point.  Related Reading: Bitcoin Crash: Heres What The Data Says About Buying The Dip Crypto analyst Follis mentioned that Ethereums chart looks identical to Bitcoins just before it pumped over 200% last year. He suggested that the Spot Ethereum ETFs could be the catalyst that sparks a similar rally for ETH.  Featured image created with Dall.E, chart from Tradingview.com

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Heres How This Ethereum Whale Made $16 Million From A Single Trade

An Ethereum whale was recently revealed to have made $16 million from a single trade involving the second-largest crypto token by market cap. This whales story again highlights how conviction in an investment can be very rewarding in the crypto space.  How This Ethereum Whale Made $16 Million In A Single Trade On-chain analytics platform Lookonchain revealed in an X (formerly Twitter) post that the whale withdrew 12,906 ETH ($24.39 million) from Binance when the crypto token was still trading at $1,890 a year ago. With Ethereum currently trading at around $3,100, the whales ETH investment is now worth over $40 million, signifying a profit of about $16 million.  Related Reading: Shiba Inu Price Prediction: Crypto Analyst Says Massive Surge Is Coming, Heres The Target Interestingly, his profits from this trade will likely be more than $16 million, as the trader deposited those tokens in the staking platform Lido when he withdrew them from Binance last year. That means he also earned significant staking rewards to go alongside his $16 million profit.  On-chain data shows the whale recently withdrew 7,000 ETH ($21 million) from Lido back to Binance but has yet to offload these tokens. However, that is something to keep an eye on as the whale offloading those tokens could have a negative impact on Ethereums price.  Trons founder, Justin Sun, looks to be another Ethereum whale that could make such significant returns on their ETH investment. Two wallets believed to belong to Sun are reported to have accumulated 295,757 ETH ($891M) at an average price of $3,014 since February 12. Since then, Sun has made some notable moves that could be profitable for him. One such move is that the Tron founder recently deposited 120,000 eETH into Swell L2, a liquid restaking protocol. Although Sun claims that this move isnt profit-motivated, he could still make huge profits from his venture, considering that restaking is one of the leading narratives at the moment.  The Bull Run Presenting A Lot Of Opportunities There have been a lot of reports highlighting how crypto investors and traders have been making life-changing, which suggests that the bull run is already in full force despite Bitcoins unimpressive price action lately. One opportunity that these traders have taken advantage of in this market cycle is meme coins.  Related Reading: Heres Why This Crypto Analyst Believes Bitcoin Is At A Prime Buy Zone Before the bull run began, there was the belief that memes would be one of the leading narratives, and that has been the case. Bitcoinist recently reported two Solana meme coin traders turned $6,400 into $8 million. Meanwhile, Lookonchain revealed a Solana trader who turned 60 SOL ($8,673) into $1.26 million in 2 months, making a 144x return on his investment.  ETH price sees sharp drop | Source: ETHUSD on Tradingview.com Featured image from Reddit, chart from Tradingview.com

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Crypto Whale Spends $10.4 Million On PEPE, Do They Know Something You Dont?

A crypto whales transaction involving the third-largest meme coin by market cap, PEPE, has drawn the crypto communitys attention. The magnitude of the transaction, coupled with some other whale transactions, suggests that it may be high time to pay more attention to PEPE.  Crypto Whale Spends $10.4 Million On PEPE On-chain analytics platform Spotonchain revealed a wallet (3eAaAC3C9) that had purchased 1.238 trillion PEPE from Binance at an average price of $0.000008424 ($10.4 million). This wallet then proceeded to withdraw the tokens in two transactions. On-chain data shows that the whale withdrew 322.5 billion PEPE in the first transaction and the remaining 915.85 billion PEPE in the second transaction.  Related Reading: Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here At the time of writing, the whale hasnt moved the tokens, suggesting they may be looking to hold for the long term. Some notable smart traders look to have been accumulating the meme coin lately, most likely in anticipation of significant price moves from it. Spotonchain also recently revealed two whales that had withdrawn 660.7 billion PEPE from Binance and MEXC.  The platform also mentioned another whale that withdrew 322.48 billion PEPE ($2.68 million) from Binance for the first time. More recently, Spotonchain drew the crypto communitys attention to a smart trader who has been profiting from the meme coin since last year. This trader is said to have completed 8 trades and realized a cumulative profit of $917,000.  Seeing how PEPE has performed since the start of the year, these whales’ interest in the meme coin isn’t surprising. Data from CoinMarketCap shows that PEPE has made a year-to-date (YTD) gain of over 500%, and this bullish momentum looks to be far from over. Interestingly, many traders have yet to jump on the the wave, as just over 200,000 persons hold the meme coin.  Price To Hit New All-time High (ATH) Soon Crypto analyst Plazma recently suggested that PEPE could soon hit a new all-time high. PEPEs current ATH is at $0.00001074, with the meme coin trading just 20% below this price level. Crypto analyst Yazan also hinted that meme coin would soon hit a new all-time high, asking his followers if they were ready for this to happen.  Related Reading: Cardano Comeback: Analyst Reveals Why Its Time To Get Back Into ADA PEPE is currently ranked as the thirtieth largest crypto token by market cap and is likely to climb higher if it eventually hits a new ATH. Crypto analyst and trader Murad believes that the meme coin could rise to the top 10 crypto tokens by market cap since he predicted that PEPE could flip Shiba Inu (SHIB) and possibly Dogecoin (DOGE). At the time of writing, the meme coin is trading at around $0.000008615, down in the last 24 hours, according to data from CoinMarketCap.   Token price drops to $0.0000084 | Source: PEPEUSDT on Tradingview.com Featured image from Gemini, chart from Tradingview.com

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Fifth Largest Bitcoin Whale Moves $6 Billion In BTC, Heres The Destination

The crypto community’s attention has been drawn to a Bitcoin whale who recently moved a huge portion of their BTC holdings across different wallets. This action has sparked the curiosity of those in the community about the reason for these transactions.  Bitcoin Whale Moves $6 Billion In BTC Blockchain analysis platform Arkham Intelligence first brought this occurrence to the communitys attention when it mentioned in an X (formerly Twitter) post that the Bitcoin address (37XuVSE) had moved over $6 billion in BTC to three new addresses.  Related Reading: Ripple CEO Responds To SECs Shocking $2 Billion Demand As part of the transactions, $5.03 billion worth of BTC was sent to one of these addresses (bc1q8yj), while the two other addresses (bc1q6m5 and bc1q592) received $561.46 million and $488.40 million worth of BTC respectively. Arkham added that one of the wallets (bc1q592) has since then proceeded to transfer the received funds to another wallet.  Notably, the wallet which moved $6 billion in BTC was before now the fifth richest Bitcoin address having held over 94,500 BTC in its wallet. As of now, it still holds 1.31 BTC in the wallet in question. Interestingly, before now, this address was dormant as it had not moved any of this BTC which it received since 2019.  Transactions of such magnitude are always sure to cause a stir in the crypto community, considering the impact such whales can have on the market. Usually, a move like this can cause community members to speculate that the whale may be looking to offload their tokens and take profits. However, the fact that these transactions werent made to exchange-linked wallets has quelled such speculations.  Another BTC Whale On The Rise Bitcoinist recently reported on BlackRocks Bitcoin wallet, which has continued to accumulate Bitcoin at an astonishing rate due to the impressive demand for its iShares Bitcoin Trust (IBIT). Despite just launching this ETF in mid-January 2024, BlackRock now holds 243,126 BTC for the fund.  Related Reading: Crypto Analyst Predicts XRP Price Will Rally 800% To $6, Heres When BlackRocks BTC holdings has seen it rise to becoming one of the largest corporate BTC holders, only behind centralized exchanges Binance, Bitfinex, and Coinbase and fellow Bitcoin ETF issuer Grayscale. A sustained demand for the IBIT ETF could however see BlackRock surpass these entities at some point.  That is also something that could reflect positively on Bitcoins price seeing as how instituitional demand for the flagship crypto has helped propel it to new highs.  At the time of writing, Bitcoin is trading at around $70,500, up in the last 24 hours according to data from CoinMarketCap. BTC price recovers above $71,000 | Source: BTCUSD on Tradingview.com Featured image from Forbes, chart from Tradingview.com

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The Road To $100,000: Bitcoin Whale Accumulation Explodes

Bitcoin reaching $100,000 remains a highly feasible target, especially given the fact that the price of the cryptocurrency hit a new all-time high above $73,00 ahead of the halving. In preparation of the explosive move that is expected to follow the halving, Bitcoin whales are going all out as they fill up their wallets with BTC. Large Bitcoin Whales Buy More BTC As the Bitcoin price has retraced from its surge, large Bitcoin whales are taking advantage of the dip to buy more coins at cheap prices. These whales, which hold at least 1,000 BTC – which means they have $70 million on the low end, have bought up a large tranche of coins over the last three months. Related Reading: Crypto Analyst Predicts XRP Price Will Rally 800% To $6, Heres When Since January, there has been a steady climb in the number of wallets that hold at least 1,000 as interest continues to grow. A lot of this interest is driven by institutional investors who are putting billions of dollars into Spot Bitcoin ETFs. Now, with the condition that issuers have to hold the BTC they sell to customers, it has seen these institutions buy up a good chunk of the supply. The number of addresses holding at least 1,000 BTC was sitting at less than 1,500 at the beginning of the year. However, by March, with institutions ramping up their buys, this number has climbed to 1,617. This is an 8% increase in the number of these large whales in the last three months. Source: Glassnode To put this increase in perspective, the last time that there were these many whales holding this much BTC was back in 2021 at the peak of the bull market. So, if this number is rising once again, it means that these large investors are expecting the price to rise, and as a result, are trying to maximize their profits. Spot ETF Inflows See 2,600% Spike After a week of consistent outflows, inflows into the Spot Bitcoin ETFs are starting to ramp up once again. For the first day of the week, inflows climbed to $14.5 million, bringing a welcome change from the almost $900 million worth of outflows that was recorded in the prior week. This change in the tide seems to have brought renewed interest for investors as Tuesday saw a whopping 2,600% increase in inflows. In total, there $418 million recorded going into Spot BTC ETFs on Tuesday, one of the highest inflow days since the ETFs were approved. Related Reading: Ripple CEO Responds To SECs Shocking $2 Billion Demand This change in direction is also evident in the Bitcoin price, which has recovered from last weeks low of $60,000. The price has since sprung back up above $70,000, with a 10% increase in the last week. This also validates the whales moves to acquire more Bitcoin, putting the vast majority of their holdings in profit. Now, as seen in the past, a return of high inflows into the Spot ETFs has always been bullish for the price. So, if the inflows were to continue throughout this week, then the price of Bitcoin could register a brand new all-time high ahead of the halving. BTC bulls push price toward $72,000 | Source: BTCUSD on Tradingview.com Featured image from India Today, chart from Tradingview.com

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94 Million XRP Exits Binance As Bulls Reclaim Control, Whats Going On?

Crypto whale transaction tracker Whale Alerts has revealed various large XRP transactions in the last 24 hours as bullish momentum returns to the market. Interestingly, five of the large transactions in the past 24 hours have come from crypto exchange Binance, with the latest occurring in the past hour. In fact, 94 million tokens were recently transferred from Binance into unknown wallets, prompting investors to contemplate the reasons behind the transfers and possible outcomes. Large Transactions From Binance Data from Whale Alerts reveals that the transfers, worth over $57 million, were sent out of Binance in five transactions of 18 million XRP each. This huge transfer could signal big investors are buying the altcoin in droves, but the pattern of accumulation also points to the transactions being carried out by one entity. Related Reading: Litecoin Beats Out Dogecoin, Bitcoin To Emerge As Top Crypto For Payments The transfers occurred throughout Sunday, starting with a transfer of 18.76 million tokens worth $11.7 million from Binance into an unknown wallet. Subsequently, 18.4 million tokens, 19.2 million tokens, 18.8 million tokens, and 18.7 million tokens worth $11.26 million, $11.47 million, $11.19 million, and $11.69 million were sent into private wallets. 18,750,448 #XRP (11,698,918 USD) transferred from #Binance to unknown wallethttps://t.co/aeCHQ4RYxA Whale Alert (@whale_alert) March 11, 2024 Investors can only speculate as the identity of wallet addresses is mostly unknown. But shifts of this magnitude often foreshadow market sentiment. These enormous transactions in such a short time span negate a random pattern and suggest accumulation from the parties involved.  However, the transfers could have also been carried out by Binance itself, as on-chain data shows all recipient addresses were activated on the same day by the exchange. Furthermore, this pattern of 18 million XRP tokens departing Binance in each large transaction began on Friday. Essentially, the transfers could have been due to wallet maintenance or liquidity factors.  Whats Next For XRP? XRP has majorly underperformed other large market-cap cryptocurrencies. At the time of writing, the token is trading at $0.6219 and is up by 18% in 30 days. For comparison, Bitcoin, Ethereum, and BNB are up by 49%, 58%, and 63% respectively in the same timeframe.  Related Reading: Crypto Whales Bet Big On LINK Is Chainlink The Next Bitcoin? However, XRP enthusiasts continue to remain strong and anticipate a strong bullish run. According to attorney Bill Morgan, XRP is set to surpass its all-time high of $3.4 this cycle. Right now, XRP is showing other signs of building momentum, like a recent breakout above a long-term downtrend line.  A popular crypto analyst known as Ash Crypto noted that the altcoin is on the verge of a multi-year breakout. The last time this happened, XRP went on a surge throughout 2017 and 2018 to reach its current all-time high.  XRP MASSIVE BREAKOUT XRP IS ON THE VERGE OF MULTI- YEAR BREAKOUT ONCE IT BREAKS OUT, THE PUMP WILL BE HUGE !! pic.twitter.com/4UuwyMXHJU Ash Crypto (@Ashcryptoreal) March 10, 2024 According to the analyst’s XRP chart, a repeat of this breakout would lead to a surge of epic proportions to $18. Token price reaches $0.625 | Source: XRPUSD on Tradingview.com Featured image from Coingape, chart from Tradingview.com

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Chainlink Breeds New Whales As $49.9 Million Accumulation Spree Cause Prices To Surge

Chainlink (LINK) has traders buzzing as its price has been up by 40% since the last week of January, massively outpacing the broader cryptocurrency market. Amidst this price spike, mysterious whale wallets have been topping up their holdings, as evidenced by on-chain data.  According to blockchain tracker Lookonchain, there’s been a massive outflow of LINK from crypto exchange Binance in the past two days, particularly with 49 new wallets receiving 2,745,815 LINK within this timeframe.  Massive LINK Accumulation Occurs On Binance Before Withdrawal Details from Binance point to an ongoing accumulation of LINK from the crypto exchange. In the middle of this accumulation, a particular whale or institution has been going on a buying spree, gobbling up more than 2.7 million LINK tokens worth $49.9 million. This accumulation came days after the Lookonchain noticed that four new wallets had withdrawn over 119,583 LINK tokens worth over $2.15 million from Binance. Related Reading: Bitcoin Miner Reserves Drop To June 2021 Levels, What This Means For Price Whales/institutions continue to accumulate $LINK! This mysterious whale/institution withdrew 2,745,815 $LINK($49.9M) from #Binance via 49 new wallets. Whale”0x2A19″ withdrew 494,957 $LINK($9M) from #Binance in the past 10 days.https://t.co/QoP2waErBShttps://t.co/iaPHa9f0XB pic.twitter.com/GUW1S33NHf Lookonchain (@lookonchain) February 7, 2024 Similarly, Lookonchain noted that another whale address “0x2A19” has withdrawn 494,957 LINK tokens worth $9 million from Binance in the past 10 days. Notably, whale transaction tracker Whale Alerts has also noted some accumulation of LINK tokens from other crypto exchanges. 800,000 #LINK (14,701,915 USD) transferred from #Bybit to unknown wallethttps://t.co/RQEu3CxLVM Whale Alert (@whale_alert) February 7, 2024 Analytics platform Santiment also noted that LINK whale addresses have upped their activity amidst the price surge as large amounts of coins were moved by previously stagnant wallets. This influx of tokens back into the network’s circulation, coupled with a minor liquidation of wallets, seems to have contributed to the price spike. #Chainlink has jumped ahead of the #altcoin pack after some previously dormant wallets created the highest Age Consumed spike (5.38B, calculated by multiplying coins moved by the amount of days those coins had been dormant). This influx of $LINK back into the (Cont) pic.twitter.com/eHVpeJz2HW Santiment (@santimentfeed) February 1, 2024 How Will New Chainlink Whales Impact Price Action Going Forward? The crypto industry is currently going through a modest price gain led by Bitcoin recently breaking above the $44,000 level again. As a result, the industry is now up by 3.25% in the past 24 hours, with a 22.60% increase in trading volume.  LINK hasn’t been left out of this price gain, registering a 4.30% gain in the past 24 hours. However, LINK has been on a sustained breakout since January, reaching as high as $19.68 on February 5.  Related Reading: Cardano Activity Sees New Life That Could Send ADA Price Soaring, Here Are The Targets The price spike isn’t particularly surprising, as fundamentals of the Chainlink ecosystem point to a steady price growth for LINK. Chainlink’s role in DeFi and NFTs with its smart contracts oracles cannot be overstated. Chainlink also recently released its Staking v0.2 protocol in December, allowing investors to stake a minimum of 1 LINK for a base floor reward rate of 4.5% per year in LINK. Consequently, the massive accumulation of LINK by whales is a very bullish signal for the token’s price action going forward. These large investors see LINK’s long-term value and potential and are loading up their bags in anticipation of higher prices. LINK price trading high at $18.7 | Source: LINKUSD on Tradingview.com Featured image from CoinMarketCap, chart from Tradingview.com

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Cardano Whales Move $6 Billion In One Day, Fuel For ADA Price To Reach $0.5?

In an interesting move, Cardano (ADA) has rebounded by almost 4% in the past 24 hours, in what seems to be an uptick in activity among large ADA holders. The price of ADA started the week on a bearish note and spent the majority of the week trending downwards. Particularly, the ADA price fell by about 9.5% to bottom out at $0.33260. However, the crypto has rebounded and has increased by about 6% from this low.  This price rebound was accompanied by a large transaction volume, especially from large holders, also known as whales. According to data from IntoTheBlock (ITB), this transaction volume amounted to 17.33 billion ADA, worth about $6 billion. Major Uptick In Cardano Whale Activity The Large Transaction Volume metric from IntoTheBlock tracks details on transactions with a value of $100,000 or greater. Interestingly, this metric puts the worth of whale transactions at $24.18 billion in the past seven days, a notable increase from last week’s readings. A huge part of these transactions were recorded in the past three days, with $6 billion movements coming on October 11 and $5.8 billion on October 10.  Related Reading: Ethereum TD Setup: Why The ETH Price Must Hold $2,250 The uptick in whale activity appears to be closely linked to ongoing developments within the Cardano ecosystem. According to a recent report from InputOutput, Cardano has remained a major hub for blockchain developers, especially following the recent node upgrades to v.9.2.0 and the subsequent v.9.2.1. InputOutput’s data reveals that by the end of September, there were 1,376 active projects being built on Cardano, underscoring its popularity among blockchain innovators. Additionally, during September, the number of minted native tokens grew by 80,000, while the total number of transactions on the network surged by 1.34 million. ADA Price To Reach $0.5 Or Drop Again? ADA’s price action has been under intense scrutiny in recent weeks, and sentiment among investors has been more negative than usual, especially on social media. Cardano’s creator, Charles Hoskinson, addressed this sentiment on social media platform X. Hoskinson clarified that the negative outlook doesnt reflect any failure on Cardanos part, emphasizing that the project continues to grow. He also took the opportunity to criticize other crypto ecosystems, remarking that Cardano remains one of the few cryptocurrencies still committed to being a true decentralized currency, unlike those aligning with corporate giants like BlackRock and Wall Street. Related Reading: Bitcoin Price Crash: $1.83 Billion Makes Its Way To Exchanges, Is A Bloodbath Coming? Despite the pessimism, the ADA price has managed to hold a key support level at $0.33, which offers some relief to bullish investors. Additionally, on-chain metrics such as net network growth and positive momentum in the futures market suggest a more optimistic outlook. The recent uptick in whale activity could signal the beginning of a more sustained rise for the ADA price. At the time of writing, ADA is trading at $0.354. The first target is a significant break above $0.40 before a return to $0.50. Featured image created with Dall.E, chart from Tradingview.com

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